If so requested by the competent authority of an EEA State other than the United Kingdom (“the EEA regulator”) acting in the exercise of its functions under the short selling regulation, the F3FCA may appoint one or more competent persons to investigate any matter.

In deciding whether to comply with a request falling within subsection (1), the F3FCA must consider whether it is necessary to do so in order to comply with the short selling regulation.

Sections 170 to 177 (which relate to investigations) apply in relation to an investigator appointed under subsection (1) as they apply in relation to an investigator appointed under section 168(5).

The F3FCA may direct an investigator appointed under subsection (1) to permit a representative of the EEA regulator” to attend, and take part in, any interview conducted for the purposes of the investigation.

The F3FCA is not to give a direction under subsection (4) unless it is satisfied that any information obtained by the EEA regulator” as a result of the interview will be subject to safeguards equivalent to those contained in Part 23.

The F3FCA must prepare a statement of its policy with respect to the conduct of interviews in relation to which a direction under subsection (4) has been given.

The statement requires the approval of the Treasury.

If the Treasury approve the statement, the F3FCA must publish it.

No direction may be given under subsection (4) before the statement has been published.

The F3FCA may at any time alter or replace a statement issued under subsection (6), and subsections (7) and (8) apply to an altered statement or to a replacement statement.